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Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible...

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Accounting

Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Fixed Budget Actual Results Sales (units produced and sold) 1,330 1,530 Sales (in dollars) $ 950 per unit $ 1,470,000 Variable costs $ 380per unit $ 588,000 Fixed costs $ 144,500 $ 135,00

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